Good afternoon Andrew,
Metals shook of the morning losses after today's Ben Bernanke's testimony included comments leaving the use of further "quantitative easing" on the table.....He also stated that the current rate of unemployment understates true job market weakness....Meanwhile; there is growing buzz that the Greek government is on the verge of accepting the long awaited austerity bill accepting the terms of the European Union, the IMF, and European Central Bank; which would open the flood gates giving the Athens government another tranche of sorely needed bail out money...130 billion Euros to be exact....Currency traders are apparently buying into the story with the Euro currently up 1.26 cents at $1.3234.....The corresponding weaker Dollar ignited a rally in the metals with Silver ending the session up 49 cents at $34.24.....Gold gained $27.00 to $1749.00....Palladium edged up $4.00 to $711.00....Platinum closed at $1649.00 up $17.00 per ounce.....Crude oil also rallied on the falling Dollar.....Last trade $98.42 up $1.52 per barrel.....U.S. stocks on he other hand are only marginally higher in the aftermath of the Bernanke testimony....The Dow is up 27 points....So; with two hours left in the day, and with all eyes on the European news wires; that's it.....Have a good afternoon.....Call for our updated package on precious metals investing....
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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